Johnson & Johnson (JNJ), Cisco Systems, Inc. (CSCO) and Wells Fargo & Co (WFC): Tweedy Browne’s Prominent Holdings

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Tweedy Browne Co disclosed in latest regulatory filing that its equity portfolio decreased to a little over $3.9 billion in 1Q2015 from more than $4.3 billion at the end of 4Q2014. The fund initiated a fresh position in one stock during 1Q and also sold out of one position in the same quarter.

New buy: AGCO Corporation (NYSE:AGCO) was Tweedy’s one and only new buy during 1Q. The fund purchased 288,871 shares worth nearly $14 million in the stock.

Largest sell: Tweedy deleted Banco Santander Brasil SA (ADR) (NYSE:BSBR) from its portfolio during 1Q, offloading all the shares it owned in the stock from 4Q.

In other portfolio mix adjustments, Tweedy increased stakes in two stocks and cut holding in 38 other stocks in 1Q alone. At the end of the day, Tweedy had the largest portion of its equity portfolio in Finance at 26%, followed by Energy and Healthcare at 20% and 17%, respectively. The fund’s other holdings are in Technology and Industrial stocks.

Prominent holdings

Tweedy’s top-three largest single equity holdings are in Johnson & Johnson (NYSE:JNJ), Cisco Systems, Inc. (NASDAQ:CSCO) and Fargo & Co (NYSE:WFC) in the order of prominence.

Stake in Johnson & Johnson drops

Tweedy Browne owned about 4 million shares in Johnson & Johnson (NYSE:JNJ) at the end of 1Q, slightly below more than 4.1 million shares held at the end of 4Q. The new dollar value in Johnson & Johnson stood at more than $408 million at the end of the latest quarter, behind more than $433 million in the previous report. Despite the decline in both stockholding and dollar value, Johnson & Johnson emerged as the fund’s best pick to the close of 1Q, accounting for more than 11% of its total portfolio.

Holding in Cisco Systems falls

Tweedy narrowed its exposure to networking gears maker Cisco Systems, Inc. (NASDAQ:CSCO) during 1Q, cutting its stockholding in the stock to 10.3 million shares from nearly 10.7 million shares at the end of the previous quarter. The dollar value in Cisco Systems also tumbled to slightly above $284 million from more than $296 million at the end of 4Q.

Tweedy cuts stake in Wells Fargo

Wells Fargo & Co (NYSE:WFC) closed 1Q as Tweedy’s third-largest position, but the fund trimmed its holding in the stock slightly during the quarter to just about 5.1 million shares from more than 5.16 million shares. The value of the stake in Wells Fargo also took a dip, falling to $277.6 million from $283 million.

Neha Gupta

Neha Gupta has been in the financial space for over six years now. Gupta earned her MBA degree from Symbiosis Centre of Distance Learning in 2009 and her passion for finance led her to pursue Chartered Financial Analyst (CFA) course. She has successfully completed Level II of her CFA. She is a veteran in article writing, which is depicted in her numerous pieces published on SeekingAlpha, Nextiphonenews, InsiderMonkey, MarketWatch, and Techinsider. Her crisp and eloquent writing finds its best place in Researchcows, where emphasis is given on developing rich content for various websites, products, business plans, trainings, and book writing.

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